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    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    323 3rd Ave Cheyenne, WY 82001-1411

    • Warehouses
    • 6,400 SF
    • 1.39 lot acres
    OFF-MARKET
    Last Sale
    Feb 14, 2022
    Value Estimations
    $380,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US95-0049333
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.

    Current Use by Public Records

    • Warehouses

    Property Details for 323 3rd Ave

    Year built
    1979
    Lot size
    1.39 lot acres
    Property size
    6,400 SF
    Zone code
    LI
    Property type
    Warehouses
    APN
    13157000100011
    APU
    13157000100011

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      ML approach
      $295,000

    • Comparable approach

      Method
      Estimation
      AI Estimate
      $463,000
      Market price range: $203k - $481k

    • Alternative Use

      Use
      Estimation
      WAREHOUSE, STORAGE
      $340,000
      Current use
      AUTO REPAIR, GARAGE
      $415,000
      Change: +22% Conversion: Easy

    Get a detailed, property-specific valuation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    Cheyenne
    County
    Laramie
    State
    Wyoming
    Longitude
    -104.804
    Latitude
    41.1223
    CBSA code
    16940
    CBSA name
    CHEYENNE, WY METROPOLITAN STATISTICAL AREA

    Property Tax & Assessments

    Tax date
    Tax Amount
    Assessed Land Value
    Assessed Improvement Value
    Total Assessed Value
    Applied Tax Rate
    Land Market Value
    Improvement Market Value
    Total Market Value
    2023
    $3,772
    $24,420
    $30,990
    $55,410
    -
    $257,057
    $326,209
    $583,266

    Comparable in this City

    • Value Estimation
      $390,000
      6,440 SF

      3406 Pershing Blvd

      WAREHOUSE, STORAGE • 6,440 SF
      3406 Pershing Blvd, Cheyenne, WY 82001-5916
      View Details
    • Value Estimation
      $225,000
      4,526 SF

      2405 Lincolnway

      MINI-WAREHOUSE, STORAGE • 4,526 SF
      2405 Lincolnway, Cheyenne, WY 82001-5485
      View Details
    • Value Estimation
      $250,000
      2,816 SF

      1308 Hot Spgs Ave

      WAREHOUSE, STORAGE • 2,816 SF
      1308 Hot Spgs Ave, Cheyenne, WY 82001-5608
      View Details
    • Value Estimation
      $250,000
      6,195 SF

      1309 18th St

      WAREHOUSE, STORAGE • 6,195 SF
      1309 18th St, Cheyenne, WY 82001-3349
      View Details
    • Value Estimation
      $355,000
      3,900 SF

      1013 22nd St

      WAREHOUSE, STORAGE • 3,900 SF
      1013 22nd St, Cheyenne, WY 82001-3424
      View Details
    • Value Estimation
      $250,000
      6,594 SF

      1019 22nd St

      WAREHOUSE, STORAGE • 6,594 SF
      1019 22nd St, Cheyenne, WY 82001-3424
      View Details

    Similar Nearby for Sale

    • Contact for pricing
      15,826 SF

      Cheyenne Industrial Property For Sale

      15,826 SF industrial property with immediate occupancy in Cheyenne, WY.
      1601 W Lincolnway, Cheyenne, WY 82001
      View Details
    • $5,750,000
      60,084 SF

      Cheyenne Commercial Building For Sale

      Commercial building with retail and warehouse space in Cheyenne, Wyoming.
      3501 E Lincolnway, Cheyenne, WY 82001
      View Details
    • $635,000
      2,976 SF

      Cheyenne Commercial Property with Car Storage

      High-visibility Cheyenne property with gated car storage and workspace.
      803 W Lincolnway, Cheyenne, WY 82001
      View Details
    • $750,000
      15,826 SF

      Cheyenne Flex Space with Land

      15,000+ sqft flex space with land in Cheyenne, WY.
      1601 W Lincolnway, Cheyenne, WY 82001
      View Details
    • $1,100,000
      13,114 SF

      Downtown Cheyenne Mixed-Use Opportunity

      Office, retail, or warehouse opportunity in downtown Cheyenne.
      1620 Thomes Ave, Cheyenne, WY 82001
      View Details
    • $175,000
      7,040 SF

      Versatile Commercial Quonset in Cheyenne

      6,400 sqft commercial space with additional quonset and potential rail.
      1500 Stinson Ave, Cheyenne, WY 82001
      View Details

    Similar Nearby for Lease

    • $10 SF/Yr
      20,800 SF

      Cheyenne Warehouse: 20,800 SF

      Spacious Cheyenne warehouse, ideal for contractors. Large yard available.
      1900 Cutler Rd, Cheyenne, WY 82001
      View Details
    • Contact for pricing
      2,566 SF

      Cheyenne Warehouse Space Available

      2566 square foot warehouse space for rent in Cheyenne.
      209 E 20Th St, Cheyenne, WY 82001
      View Details
    • $12 SF/Yr
      4,000 SF

      Industrial Warehouse Space Available

      4,000 sq ft warehouse space for lease.
      1212 Ridge Rd, Cheyenne, WY 82001
      View Details
    • Contact for pricing

      Cheyenne Warehouse Space Available

      Warehouse space available in Cheyenne, Wyoming.
      Dark Fiber & Duct West, Cheyenne, WY 82001
      View Details
    • Contact for pricing
      12,000 SF

      Cheyenne Warehouse with Secured Area

      12,000 SF warehouse with office space and secured fenced area.
      2530 Old Happy Jack Rd, Cheyenne, WY 82001
      View Details
    • $24 SF/Yr
      10,500 SF

      Cheyenne Office Space For Rent

      10,500 SF office space available for lease.
      4017 Rawlins St, Cheyenne, WY 82001
      View Details
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    323 3rd Ave
    Cheyenne, WY 82001-1411
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
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